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May 7, 2024 |
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| Home > Small Business Lenders by State > Utah Business Loan Sources > Salt Lake City, Business Loans > Wells Fargo Bank Salt Lake City Business Loans > Concrete Work Loan | ||||
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I Need an SBA Loan in Layton, Utah
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Financing for Concrete ContractorsLooking for loans for concrete contractors? The SBA may be the answer. This $150,000 concrete contractors loan was issued by an Utah bank. This small firm knew how to go about getting a business bank loan. Based in Layton, Utah, they applied for and were awarded an SBA-guaranteed loan in 2000. The lending bank was Wells Fargo Bank, based in Salt Lake City, Utah. SBA Loan Borrower COMPANY TYPE: CONCRETE WORK SBA Loan Lender WELLS FARGO BANK The lender provided this debt financing through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing. SBA Loan Program Type This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program. SIC Code 1771 - Concrete Work NAICS Code 235710 - Concrete Contractors Loan Approval Date 5/23/2000 Loan Approval Gross Amount $150,000 Loan Approval from the SBA Of the total $150,000 loan amount, the SBA guaranteed $75,000. More Information on This SBA Loan The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 60 employees. The loan application indicated that the loan would help generate 5 new jobs and retain 55 existing jobs. Great, But How Can I Get an SBA Loan for My Business? SBA loans provide money to small business owners for working capital for other expenses. There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! About This SBA Loan Information: All SBA loan data displayed above comes from the government's publicly available SBA loan database. Information on this page is provided by the Gaebler.com news organization to inform business owners, aspiring entrepreneurs and others about SBA loan activity. LoanCensus.com does not assist businesses with obtaining SBA loans and was not involved in any way with this transaction. For additional information, see our Loan Information FAQ. Related Links: Microlending as a Small Business Funding Source Where to Get an SBA Loan in Salt Lake City, Utah
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